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Free Trade Agreements and Governance of the Global Trading System

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  • Andrew G. Brown
  • Robert M. Stern

Abstract

This paper explores how far free trade agreements (FTAs) have strengthened or weakened global governance of the trading system. We open with an analysis of the altered political and economic context within which countries have come, in recent years, to assign a new importance to regional and bilateral trade agreements in their trade policies. We then consider each of the main provisions included in FTAs and comment on how these may separately affect the management of trade relations. We conclude with some observations of the broader trends affecting global governance that are associated with the spread of trade agreements as a whole.
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Suggested Citation

  • Andrew G. Brown & Robert M. Stern, 2011. "Free Trade Agreements and Governance of the Global Trading System," The World Economy, Wiley Blackwell, vol. 34(3), pages 331-354, March.
    • Handle: RePEc:bla:worlde:v:34:y:2011:i:3:p:331-354
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    References listed on IDEAS

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    1. Teh, Robert & Prusa, Thomas J. & Budetta, Michele, 2007. "Trade remedy provisions in regional trade agreements," WTO Staff Working Papers ERSD-2007-03, World Trade Organization (WTO), Economic Research and Statistics Division.
    2. Andrew G. Brown & Robert M. Stern, 2009. "Concepts of Fairness in the Global Trading System," World Scientific Book Chapters, in: Globalization And International Trade Policies, chapter 5, pages 109-149, World Scientific Publishing Co. Pte. Ltd..
    3. Paul Brenton & Miriam Manchin, 2014. "Making EU Trade Agreements Work: The Role of Rules of Origin," World Scientific Book Chapters, in: INTERNATIONAL TRADE, DISTRIBUTION AND DEVELOPMENT Empirical Studies of Trade Policies, chapter 14, pages 299-313, World Scientific Publishing Co. Pte. Ltd..
    4. Richard E. Baldwin, 2011. "Multilateralising Regionalism: Spaghetti Bowls as Building Blocks on the Path to Global Free Trade," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume I, chapter 2, Edward Elgar Publishing.
    5. John Whalley, 2008. "Recent Regional Agreements: Why So Many, Why So Much Variance in Form, Why Coming So Fast, and Where Are They Headed?," The World Economy, Wiley Blackwell, vol. 31(4), pages 517-532, April.
    6. Jean-Pierre Chauffour & Jean-Christophe Maur, 2011. "Preferential Trade Agreement Policies for Development : A Handbook," World Bank Publications - Books, The World Bank Group, number 2329.
    7. Michael G. Plummer, 2007. "‘Best Practices’ in Regional Trading Agreements: An Application to Asia," The World Economy, Wiley Blackwell, vol. 30(12), pages 1771-1796, December.
    8. Bernard Hoekman, 2008. "The General Agreement on Trade in Services: Doomed to Fail? Does it Matter?," Journal of Industry, Competition and Trade, Springer, vol. 8(3), pages 295-318, December.
    9. World Bank, 2005. "Global Economic Prospects 2005 : Trade, Regionalism and Development," World Bank Publications - Books, The World Bank Group, number 14783.
    10. Brown, Andrew G. & Stern, Robert M., 2008. "What are the issues in using trade agreements to improve international labor standards?," World Trade Review, Cambridge University Press, vol. 7(2), pages 331-357, April.
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    Cited by:

    1. Helble, Matthias & Ali, Zulfiqar & Lego, Jera, 2018. "A Comparison of Global Governance Across Sectors: Global Health, Trade, and Multilateral Development Finance," ADBI Working Papers 806, Asian Development Bank Institute.

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    More about this item

    JEL classification:

    • F1 - International Economics - - Trade
    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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